Many people dread their 50th birthdays, feeling that “over 50” is practically a death sentence. For some reason, the age of 50 seems to be a negative milestone, a reminder of our own mortality. Yet today’s baby boomers are completely reinventing all of the rules. No longer something to be feared, the 50th birthday is now a time of entering a new and exciting phase of life. Here are a few reasons to eagerly anticipate rather than dread being over 50.

Discounts Galore

How would you like to save money virtually everywhere you go? The baby boom generation consists of those who were born between 1945 and 1964. With 76 million births in the United States alone, the Baby Boom generation is the largest generation in recent memory. The majority of Baby Boomers are now over 50. The size and relative affluence of this market means that the over-50 crowd has a lot of money to spend. Businesses have begun to recognize the collective spending power of this group, and to compete with each other for business. This translates into numerous discounts on everything from manicures to restaurant meals to travel.

It can be difficult to find the deals, however. The minimum age for senior discounts ranges from 50 to 70, depending on the company’s policies. Many discounts are not well-advertised. An extremely helpful resource is SeniorDiscounts.com, which maintains a compiled list of available discounts, searchable by category. The site details the offer, as well as the minimum age of eligibility. However, policies change from time to time, so it is important to confirm any discounts that you find on the site.

Some books are also available, but the same caveats apply.

Always ask for a discount. No matter where you are, or what service you are receiving, it never hurts to ask if a discount applies. The worst that will happen is that no discount will exist or you will not yet be eligible. Some places seem to maintain a policy of giving a discount to anyone who asks, while never advertising an official discount, so ask even if you believe that no discount is available.

AARP

The American Association of Retired Persons is a controversial special interest group. Anyone 50 or over is eligible to join for a nominal yearly membership fee. AARP provides a long list of products and services specifically for its members. Many businesses offer discounts to AARP members that are otherwise unavailable or offered only to seniors of a higher age. Additionally, certain products are sold through AARP at unusually low prices. AARP-related products run the gamut from insurances to technology products. AARP also maintains several foundations that offer financial help to over-50 Americans of low income status.

AARP is also a powerful lobbying group. The group’s official position is non-partisan and they claim not to support any particular politician, party or candidate. Instead, it works toward awareness of issues that affect Americans over 50. However, AARP’s actions during the past several years have led many to question the group’s impartiality.

AARP lobbied Congress on behalf of the Medicare Part D prescription drug program in 2003. While the program offers some advantages to those over 50 with no other prescription drug plan, it caused sweeping changes in the entire insurance industry.

These changes caused major problems for Americans of all ages who already had a good prescription plan. The plan is extremely complicated, setting arbitrary prices for a seemingly random list of “approved” medications. Additionally, each person who wishes to join the program must get approval for his or her own personal list of prescription medications. The majority of insurance companies have now adopted Medicare’s price list, resulting in skyrocketing co-payments for those who were used to paying a set fee for medications. If you need a drug that is not on Medicare’s approved list, or if Medicare does not approve the drug for you specifically, then you must pay full price for the medication.

AARP’s membership dropped dramatically following the implementation of Medicare Part D. Many members and potential members felt that since AARP lends its name to certain insurance products and receives insurance agent commissions on those products, AARP had an agenda in lobbying for the program. AARP has since launched a campaign called “Divided We Fail” in an effort to regain membership and rebuild public trust.

New Role Models for a New Age

Baby Boomers are redefining what it means to be over 50. No longer content to sit at home and knit, today’s over-50 generation has chosen to remain active and dynamic. High-profile role models are demonstrating that anything is still possible. Billionaire Sir Richard Branson remains a highly energetic maverick, the personal face of the global Virgin brand, which includes, a chain of record stores, a music label, an airline, a comic book company, a fleet of trains, an animation company, a stem cell bank, and a cell phone brand.

Branson is the driving force behind Virgin’s bid to become the first space tourism company, with its space plane already selling tickets for its 2009 maiden voyage.

In his spare time, Branson is an extreme sports enthusiast and a holder of numerous world records. His 2004 television show, “The Rebel Billionaire,” was a reality show in the same vein as Donald Trump’s “The Apprentice.” However, in addition to business-related challenges, the contestants were required to participate in a long list of difficult physical challenges as well. Branson explained on the show that he attributes much of his business success to his experiences in triumphing over fear and adversity in extreme sports, and he wanted his potential successor to be the same.

The over-50 team of Nigel Lythgoe and Simon Cowell has created a dynasty in the twin juggernauts of “American Idol” and “So You Think You Can Dance.” Not content to sit quietly behind the scenes as executive producers, the two are also the public faces of the shows. Simon is the biting and sarcastic head judge on “Idol,” while Nigel performs the same function for “Dance.” Both are extremely popular public personas, a remarkable feat for primetime shows that target the 18-39 demographic.

Freedom

Turning 50 is the beginning of a new phase in most people’s lives. Your children are growing up and leaving home, which can lead to the dreaded Empty Nest Syndrome. However, this can be a positive change, as lessening responsibilities lead to new opportunities. By the time you reach 50, you are at the top of your career field. You likely have investments and a reasonably large paycheck.

You may become eligible for early retirement and may decide to sell your house. Or you could opt for a reverse mortgage, in which you receive payments from a lending institution based on the value of your home.

You may choose to travel, take a class or pick up a new hobby. This is the time in your life to enjoy the fruits of your labor. There are special interest groups galore for people over 50, from dating sites for singles over 50 to specialized travel agencies. Take advantage of these to meet like-minded others, or join up with people of all ages. Many younger adults see those over 50 as mentors and friends, so do not be deterred from any activity simply because you fear being the oldest in the group.

Many people dread their 50th birthdays, feeling that “over 50” is synonymous with old age. However, this is no longer the case. Turning 50 opens up a whole new world of opportunities. Put in the effort to get involved in the things that you enjoy, and you will discover that age truly is a state of mind.

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